''CoinDesk'' is a news site specializing in

bitcoin Bitcoin (abbreviation: BTC; sign: ₿) is a decentralized digital currency that can be transferred on the peer-to-peer bitcoin network. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distr ...

and

digital currencies Digital currency (digital money, electronic money or electronic currency) is any currency, money, or money-like asset that is primarily managed, stored or exchanged on digital computer systems, especially over the internet. Types of digital cu ...

. ''CoinDesk'' also provides guides to bitcoin for those new to digital currencies. Founded by Shakil Khan, the site was subsequently acquired by

Digital Currency Group Digital Currency Group (DCG) is a venture capital company focusing on the digital currency market. It is located in Stamford, Connecticut. The company has five subsidiaries which are '' CoinDesk'', Foundry, Genesis, Grayscale Investments, and Lu ...

History

''CoinDesk'' was founded by entrepreneur Shakil Khan and began publishing in May 2013. Khan is also an investor in

BitPay BitPay is a bitcoin payment service provider headquartered in Atlanta, Georgia, United States. It was founded in May 2011 by Tony Gallippi and Stephen Pair. BitPay provides Bitcoin and Bitcoin Cash payment processing services for merchants. H ...

, a bitcoin payment processor. At the start of 2016, ''CoinDesk'' was acquired by

for an estimated . The next year, in 2017, the company acquired blockchain data and research platform Lawnmower. In 2021 the company acquired cryptocurrency data analytics firm TradeBlock. In December 2017, CoinDesk established ''CoinDesk'' Korea in collaboration with the 22nd Century Media Co., subsidiary of Hankyoreh Co., Ltd. to provide blockchain news service in South Korea. In November 2022, ''CoinDesk'' reported that FTX's partner firm

Alameda Research Alameda Research was a cryptocurrency trading firm, co-founded in September 2017 by Sam Bankman-Fried and Tara Mac Aulay. In November 2022, FTX, Alameda's sister cryptocurrency exchange, experienced a solvency crisis, and both FTX and Alamed ...

held a significant portion of its assets in FTX's native token FTT. The news led to a

bank run A bank run or run on the bank occurs when many clients withdraw their money from a bank, because they believe the bank may cease to function in the near future. In other words, it is when, in a fractional-reserve banking system (where banks no ...

and

liquidity crisis In financial economics, a liquidity crisis is an acute shortage of ''liquidity''. Liquidity may refer to market liquidity (the ease with which an asset can be converted into a liquid medium, e.g. cash), funding liquidity (the ease with which borrow ...

at FTX, culminating in FTX filing for bankruptcy protection.

Consensus Event

Consensus is the biggest blockchain event every year and is organized by CoinDesk. It has been held in New York City from 2017 to 2022.

Bitcoin Price Index

The CoinDesk Bitcoin Price Index (CoinDesk BPI) was launched in September 2013. The Bitcoin Price Index is an average of bitcoin prices across bitcoin exchanges, and began by using price data from Bitstamp,

BTC-e BTC-e was a cryptocurrency trading platform primarily targeting Russian auditory with servers located in USA - until the U.S. government seized their website and all funds in 2017. It was founded in July 2011 by Alexander Vinnik and Aleksandr Bi ...

and CampBX. Although

Mt. Gox Mt. Gox was a bitcoin exchange based in Shibuya, Tokyo, Japan. Launched in 2010, it was handling over 70% of all bitcoin (BTC) transactions worldwide by early 2014, when it abruptly ceased operations amid revelations of its involvement in the ...

data was not used initially, due to withdrawal concerns for US customers, in November 2013, Mt. Gox was added to the BPI due to "a reduction in the risk premium and the option of additional deposit/withdrawal methods". The

bitcoin exchange was eventually removed from the index in February 2014 after its "persistent failure to meet the index's standards for inclusion". The index was restored to an average of three exchanges in March 2014 with the inclusion of

Bitfinex Bitfinex is a cryptocurrency exchange owned and operated by iFinex Inc registered in the British Virgin Islands. Their customers' money has been stolen or lost in several incidents, and they have been unable to secure normal banking relationshi ...

price data, according to CoinDesk: "Since the decline of Mt. Gox, we have observed that Bitfinex has been able to sustain a dramatic increase in its share of the total volume of U.S. dollar-denominated bitcoins traded". Publications which have referenced the Bitcoin Price Index data or price include the BBC, ''

The Wall Street Journal ''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...

'',

Reuters Reuters ( ) is a news agency owned by Thomson Reuters Corporation. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide. Reuters is one of the largest news agencies in the world. The agency was est ...

, ''

The New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid ...

'',

CNBC CNBC (formerly Consumer News and Business Channel) is an American basic cable business news channel. It provides business news programming on weekdays from 5:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk s ...

, and

Bloomberg News Bloomberg News (originally Bloomberg Business News) is an international news agency headquartered in New York City and a division of Bloomberg L.P. Content produced by Bloomberg News is disseminated through Bloomberg Terminals, Bloomberg T ...

State of Bitcoin report

In February 2014, ''CoinDesk'' released its first 'State of Bitcoin' report. The aim of the report is: ''to provide an overview of key cryptocurrency trends, challenges, and opportunities, while also highlighting the most important developments over the last year''. A follow-up report in Q2 2014 highlighted that venture capital investment in bitcoin companies was up 28 percent compared to the previous quarter, and that VC investment was pouring into European Bitcoin startups.

References

External links

* {{Cryptocurrencies Internet properties established in 2013 Cryptocurrencies Bitcoin companies Technology websites